Thinking about striking out on your own and launching your own company? Easy there, entrepreneurs-to-be.
Despite how much lip service small business gets from American – and especially politicians – there’s a lot more to being an entrepreneur than having an idea and a website.
For one, you have to know your market. And on a practical side, you need to understand the rules governing small businesses, like how much annual revenue and how many employees you can have for the government to actually consider you one. The rules differ depending on whether your business manufactures actual things or if you provide some other service. You also need to understand how federal and state taxes apply to your company.
Scroll on down to see how much you know about operating a small business in America!